How to Compare Life Insurance Quotes

Compare life insurance quotes by getting several estimates from many different sources and then asking and answering the following questions:

How to compare life insurance quotes

  1. How much will the life policy pay out if I die?
  2. Is this a whole life, also called pure life, policy or is it term policy? If it is term policy, then when will it pay out and how much?
  3. What are the tax implications of this policy? Would it be better for tax purposes for the policy to be someone other than the life insured? Should you establish a trust, for instance, or my spouse or children – rather than me? “If I am the owner then if I die the proceeds go into the estate. This could be a tax problem. But if I die and someone else owns the policy then the payout could be tax free.”
  4. What is the intention of the life cover? “Am I taking out life insurance to cover my debts and to help my dependants in the case of my death? Is this sufficient life insurance to make life easier for them for a couple of years after my demise?”
  5. “What else has been added to this basic life insurance policy? When you compare life insurance quotes, take into account that some life insurance policies include disability, loss of earnings and dread disease or major illness cover. These are important additions and of course they will cost more. Be careful to compare apples with apples.
  6. “Have my business involvements been taken care of by this policy?” Partner insurance is important. If you are your spouse are involved in a business you will want to cover all eventualities that might arise from your death pertaining to the business.
  7. “Is this a reputable insurance company?” Obviously the bigger and longer established the life insurance company, the better. Compare life insurance quotes from South African insurance giants Liberty Life, Old Mutual, Metropolitan Life, Momentum Life, Discovery Life and Sanlam to get a good idea of what you should be buying and how much you need to spend on the best life insurance policy for your needs.
  8. Compare life insurance quotes by benefits and cost. Make two columns on a piece of paper and note down benefits in one column and cost in the other one. This is a pros and cons exercise, if you will.
  9. Once you have narrowed down your choice of life insurance quotes, you might want to get hold of a broker to help you compare life insurance quotes. The best brokers are neutral and really want to help. They will explain things in fine detail and point out the pitfalls, positives and where you need to fill in the blanks.


Do not be in a hurry. Take a couple of weeks to compare life insurance quotes and do not let anyone – family, broker or insurance sales person – press you into making a decision. Life insurance is for the long term.


Use the form on this page to request a life insurance quote!


All info was correct at time of publishing